In the 2019 election, inequality was a major campaign theme. In the run up to polling day, the then Labor leader Bill Shorten declared inequality killed hope and created a fault line in politics by fostering a “sense of powerlessness that drives people away from the political mainstream, and down the low road of blaming minorities, and promising to turn back the clock”.
Back then, Labor promised to pursue measures like the abolition of franking credits – characterised by Shorten as “unsustainable largesse for high-income earners” – and curbs to negative gearing. These policies raised the revenue underpinning Labor’s then antidote – projected increases in social spending in areas like health and education.
